Envestnet Asset Management Inc. Sells 46,470 Shares of Pebblebrook Hotel Trust $PEB

Envestnet Asset Management Inc. lowered its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 6.7% during the 3rd quarter, Holdings Channel reports. The firm owned 646,431 shares of the real estate investment trust’s stock after selling 46,470 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Pebblebrook Hotel Trust were worth $7,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PEB. Amalgamated Bank increased its holdings in shares of Pebblebrook Hotel Trust by 3.5% in the third quarter. Amalgamated Bank now owns 35,064 shares of the real estate investment trust’s stock worth $399,000 after purchasing an additional 1,170 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Pebblebrook Hotel Trust by 5.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 27,187 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 1,500 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 1.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 168,200 shares of the real estate investment trust’s stock worth $1,680,000 after acquiring an additional 1,600 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 1.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 172,758 shares of the real estate investment trust’s stock worth $1,968,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Pebblebrook Hotel Trust by 2.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,089 shares of the real estate investment trust’s stock worth $690,000 after acquiring an additional 1,828 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PEB shares. Robert W. Baird set a $15.00 target price on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a report on Monday, January 12th. Compass Point downgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $12.00 to $11.50 in a report on Monday, November 10th. Wells Fargo & Company upped their target price on shares of Pebblebrook Hotel Trust from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, December 1st. Stifel Nicolaus set a $13.50 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, November 6th. Finally, Barclays started coverage on Pebblebrook Hotel Trust in a research report on Tuesday, January 6th. They issued an “underweight” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.08.

Pebblebrook Hotel Trust Trading Up 1.2%

Shares of PEB opened at $12.68 on Friday. The company’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $11.28. The company has a market cap of $1.44 billion, a P/E ratio of -10.65 and a beta of 1.54. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.86. Pebblebrook Hotel Trust has a twelve month low of $7.41 and a twelve month high of $13.11.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.36%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.